Sell JPYINR Oct @ 59.7 SL 59.9 TGT 59.5-59.3 - Kedia Advisory
USDINR
SELL USDINR OCT @ 88.9 SL 89.05 TGT 88.75-88.65.
Observations
USDINR trading range for the day is 88.54-89.16.
Rupee hit an all-time low hurt by worries over how U.S. tariffs and changes in immigration policy could dent trade.
The OECD raised India’s 2025 GDP forecast to 6.7% from 6.3%, citing strong domestic demand and GST reforms.
S&P Global Ratings projects India's economic growth to remain steady at 6.5% in FY26.
EURINR
SELL EURINR OCT @ 104 SL 104.3 TGT 103.7-103.4.
Observations
EURINR trading range for the day is 103.34-104.74.
Euro dropped as traders balanced monetary policy prospects against fresh trade tensions.
In Europe, expectations point toward the end of the ECB’s easing cycle after the central bank left rates unchanged for a second straight meeting in September.
Economic indicators continue to paint a mixed picture, with services PMIs showing signs of recovery while the manufacturing slump deepens.
GBPINR
SELL GBPINR OCT @ 119.1 SL 119.4 TGT 118.8-118.5.
Observations
GBPINR trading range for the day is 118.44-119.12.
GBP slipped as investors weighed inflation risks and the Bank of England’s policy outlook.
BoE policymaker Megan Greene urged caution on rate cuts, suggesting a pause in November
Governor Andrew Bailey signaled more easing is still needed.
The divergence highlights uncertainty as UK inflation, the highest in the G7.
JPYINR
SELL JPYINR OCT @ 59.7 SL 59.9 TGT 59.5-59.3.
Observations
JPYINR trading range for the day is 59.34-60.12.
JPY dropped pressured by broad dollar strength after solid US data reduced expectations for deeper Fed rate cuts.
In Japan, Tokyo’s core inflation rose 2.5% in September, steady from August but below forecasts of 2.8%.
Minutes from the BOJ’s July meeting signaled policymakers remain inclined to raise rates further if growth and prices evolve as expected.
